Australia could add over 7GW of renewable energy capacity by the end of 2024

Facebook
Twitter
LinkedIn
Reddit
Email
Rooftop solar PV is also set to overtake coal-fired power this decade. Image: Climate Change Authority (iStock).

Australia’s Clean Energy Regulator (CER) has revealed that over 7GW of renewable energy capacity could be added in the country by the end of 2024.

The regulator said this is due to an upgraded estimate of 3GW to 4GW of large-scale wind and solar PV reaching first generation and an estimated 3.1GW of small-scale rooftop solar being added, according to the organisation’s Quarterly Carbon Market Report for Q2 2024.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The CER also said 1.5GW of large-scale renewable power station capacity was approved in the first half of 2024, and 2.5GW of applications were under assessment at the end of Q2 2024.

In the first half of 2024, final investment decisions for large-scale renewables continued to increase. A total of 1.8GW of capacity reached a final investment decision, surpassing the 1.6GW that reached a final investment decision in 2023.

Rooftop solar PV to overtake coal-fired power this decade

In what has proved a successful year for utility-scale renewable energy installations, rooftop solar PV also continues to storm ahead in the Australian market. Indeed, coverage from PV Tech last week (20 September) revealed that rooftop solar PV could overtake coal-fired power stations by the end of the decade.

Indeed, the non-profit organisation Climate Council signalled that Australia, the global leader in rooftop solar PV installations, could add a further 26.4GW by the end of the decade, bringing its total to 49.4GW.

Australia currently has around 3.6 million households with rooftop solar PV installed, granting households an average annual savings of around AU$1,500 (US$1,021). Collectively, this means Australian households are saving around AU$3 billion per year.

Monthly installation rates for solar PV continue to sit above the 250MW mark in Australia, with August seeing 277MW installed, according to solar consultancy SunWiz. This was a 7% month-on-month decrease on the figures witnessed in July, where 302MW was installed, achieving a record level for the mid-year interval.

Australia has the potential to install around 103GW of rooftop solar PV, which is four times the current capacity. This is 1.5 times the capacity of the utility-scale electricity generators in Australia’s National Electricity Market (NEM), which powers the entire east coast, South Australia, and Tasmania.

17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

October 10, 2024
The New Zealand government has presented the Fast Track Approval Bill, which includes ten solar PV projects that will receive a boost in their development.
October 10, 2024
The Australian Energy Market Commission (AEMC) has opened a new consultation today (10 October) exploring the use of smart data to optimise consumer energy resources (CERs) such as solar PV and batteries.
October 9, 2024
EQT said the acquisition will help OX2 to grow its market position and strengthen its market presence in the long term.
October 9, 2024
To date, two 700MW high-voltage cables between Morocco and Spain are the only interconnections between the two continents.
October 9, 2024
Oil and gas explorer Pilot Energy announced today (9 October) that it received a non-binding offer from renewable energy developer EDP Renewables APAC to take full ownership of the 376MW Three Springs solar PV power plant in Western Australia.
October 9, 2024
The Australian government has granted development approval for Lightsource bp’s proposed 450MW Goulburn River Solar Farm in New South Wales.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 15, 2024
Santiago, Chile
Solar Media Events
October 22, 2024
New York, USA
Solar Media Events
November 12, 2024
San Diego, USA